UK markets open in 4 hours 22 minutes
  • NIKKEI 225

    23,261.98
    -156.53 (-0.67%)
     
  • HANG SENG

    24,463.48
    -245.32 (-0.99%)
     
  • CRUDE OIL

    37.36
    -0.03 (-0.08%)
     
  • GOLD FUTURES

    1,880.20
    +1.00 (+0.05%)
     
  • DOW

    26,519.95
    -943.24 (-3.43%)
     
  • BTC-GBP

    10,180.09
    +4.46 (+0.04%)
     
  • CMC Crypto 200

    261.90
    -10.79 (-3.96%)
     
  • ^IXIC

    11,004.87
    -426.48 (-3.73%)
     
  • ^FTAS

    3,155.25
    -78.74 (-2.43%)
     

Norway extends loan guarantees for Norwegian Air

·1-min read
FILE PHOTO: Norwegian Air Sweden Boeing 737-800 plane SE-RRJ approaches Riga International Airport in Riga
FILE PHOTO: Norwegian Air Sweden Boeing 737-800 plane SE-RRJ approaches Riga International Airport in Riga

OSLO (Reuters) - Norway's government has extended loan guarantees for the country's airlines, including Norwegian Air <NORR.OL>, by two months until the end of 2020, the Industry Ministry said on Sunday.

Norwegian Air secured a state aid package of 3 billion Norwegian crowns ($330 million) earlier this year after a debt restructuring but said last month it needed to secure more funding to get through the COVID-19 pandemic.

The government has changed the terms of the state guarantee scheme, the industry ministry said in a statement, without disclosing specifics.

"The changes we now propose are designed for the scheme to help more airlines than those who have already used it," Industry Minister Iselin Nyboe said in the statement.

The ministry was not immediately available for further comment.

(Reporting by Victoria Klesty; Editing by David Clarke)